Maycraft (Private Owners) Limited - Limited company - abbreviated

REGISTERED NUMBER: 02750664 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 31st October 2014

for

Maycraft (Private Owners) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr H W May

Mr J W May

REGISTERED OFFICE:

Deekside

Riverside

Potter Heigham

Great Yarmouth

Norfolk

NR29 5ND

REGISTERED NUMBER:

02750664 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

58 Thorpe Road

Norwich

Norfolk

NR1 1RY

FIXED ASSETS

Tangible assets

2

593

657

CURRENT ASSETS

Stocks

1,000

3,300

Cash at bank

1,396

1,050

2,396

4,350

CREDITORS

Amounts falling due within one year

20,382

20,905

NET CURRENT LIABILITIES

(17,986

)

(16,555

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(17,393

)

(15,898

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(17,395

)

(15,900

)

SHAREHOLDERS' FUNDS

(17,393

)

(15,898

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15th July 2015 and were signed on its behalf by:

Mr H W May - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Workboat

-

15% Reducing balance basis

Dayboats

-

15% Reducing balance basis

Motorcruiser

-

25% Reducing balance basis

Office Equipment

-

15% Reducing balance basis

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

No deferred tax asset is recognised in respect of tax losses available in future periods. This is on the basis that

the directors do not consider the likelihood of the company making profits against which to utilise these losses to

be more probable than not.

Going concern

These financial statements have been prepared on the going concern basis. The Directors consider this basis to

be appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2013

and 31st October 2014

11,770

DEPRECIATION

At 1st November 2013

11,113

Charge for year

64

At 31st October 2014

11,177

NET BOOK VALUE

At 31st October 2014

593

At 31st October 2013

657

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/14

31/10/13

value:

£

2

Ordinary

£1

2

4.	RELATED PARTY DISCLOSURES

Mr H W May is a Director of Maycraft (Boat Service) Limited, a Company whose principal activity is the hiring,

maintenance and repairing of boats.

As at 31st October 2014 there is a creditor of £6,505 (£4,956 in 2013) due to Maycraft (Boat Service) Limited

for expenses paid on behalf of Maycraft (Private Owners) Limited.

Maycraft (Private Owners) Limited - Limited company - abbreviated - 11.6

Maycraft (Private Owners) Limited - Limited company - abbreviated - 11.6